Oric Pharmaceuticals (NASDAQ:ORIC) Posts Earnings Results, Misses Expectations By $0.03 EPS

Oric Pharmaceuticals (NASDAQ:ORIC) released its earnings results on Monday. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.03), FiscalAI reports.

Oric Pharmaceuticals Price Performance

Shares of Oric Pharmaceuticals stock traded down $0.14 during trading on Monday, hitting $9.63. 1,052,931 shares of the company were exchanged, compared to its average volume of 1,854,244. The firm has a market capitalization of $996.90 million, a P/E ratio of -6.34 and a beta of 1.11. Oric Pharmaceuticals has a 1-year low of $4.52 and a 1-year high of $14.93. The firm’s fifty day moving average price is $11.26 and its 200 day moving average price is $11.02.

Wall Street Analyst Weigh In

ORIC has been the subject of a number of research reports. Wedbush lowered their price objective on Oric Pharmaceuticals from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Citigroup raised their target price on shares of Oric Pharmaceuticals from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Wall Street Zen upgraded shares of Oric Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of Oric Pharmaceuticals in a research note on Thursday, April 2nd. Finally, Piper Sandler began coverage on shares of Oric Pharmaceuticals in a report on Wednesday, January 7th. They issued an “overweight” rating and a $22.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.90.

Insider Buying and Selling at Oric Pharmaceuticals

In related news, CFO Dominic Piscitelli sold 52,000 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $13.51, for a total value of $702,520.00. Following the sale, the chief financial officer directly owned 68,148 shares in the company, valued at $920,679.48. This trade represents a 43.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oric Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Freestone Grove Partners LP acquired a new position in shares of Oric Pharmaceuticals in the 4th quarter valued at $198,000. Jain Global LLC bought a new stake in shares of Oric Pharmaceuticals in the 3rd quarter valued at $182,000. DRW Securities LLC acquired a new stake in Oric Pharmaceuticals during the 4th quarter worth $157,000. Quarry LP raised its stake in Oric Pharmaceuticals by 2,106.9% during the 4th quarter. Quarry LP now owns 16,000 shares of the company’s stock worth $131,000 after buying an additional 15,275 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new position in Oric Pharmaceuticals during the fourth quarter worth about $117,000. Institutional investors own 95.05% of the company’s stock.

About Oric Pharmaceuticals

Oric Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company headquartered in South San Francisco, California. The firm is dedicated to discovering and developing small molecule therapeutics designed to overcome resistance mechanisms in solid tumor oncology. Its research efforts focus on identifying novel targets and advancing precision medicines that can restore or enhance patient response when standard therapies fail.

The company’s pipeline features lead candidates such as ORIC-101, a selective, orally available antagonist of the glucocorticoid receptor currently being evaluated in Phase 1/2 trials for patients with solid tumors who have acquired resistance to chemotherapy and hormonal agents.